PFG Investments LLC Sells 111 Shares of Blackstone Inc. (NYSE:BX)

PFG Investments LLC trimmed its position in Blackstone Inc. (NYSE:BX) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,408 shares of the asset manager’s stock after selling 111 shares during the quarter. PFG Investments LLC’s holdings in Blackstone were worth $4,553,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the stock. Glen Eagle Advisors LLC increased its stake in Blackstone by 1.8% during the third quarter. Glen Eagle Advisors LLC now owns 3,251 shares of the asset manager’s stock worth $498,000 after acquiring an additional 59 shares during the last quarter. Investmark Advisory Group LLC increased its stake in Blackstone by 2.4% during the third quarter. Investmark Advisory Group LLC now owns 2,608 shares of the asset manager’s stock worth $399,000 after acquiring an additional 60 shares during the last quarter. Raleigh Capital Management Inc. increased its stake in Blackstone by 32.1% during the third quarter. Raleigh Capital Management Inc. now owns 255 shares of the asset manager’s stock worth $39,000 after acquiring an additional 62 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Blackstone by 2.3% during the third quarter. Capital Advisors Ltd. LLC now owns 2,787 shares of the asset manager’s stock valued at $427,000 after buying an additional 62 shares during the last quarter. Finally, Fidelis Capital Partners LLC grew its stake in shares of Blackstone by 2.7% during the third quarter. Fidelis Capital Partners LLC now owns 2,374 shares of the asset manager’s stock valued at $396,000 after buying an additional 62 shares during the last quarter. 70.00% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on BX shares. TD Cowen raised Blackstone from a “hold” rating to a “buy” rating and upped their target price for the company from $149.00 to $230.00 in a research note on Monday, December 9th. Bank of America upped their target price on Blackstone from $171.00 to $192.00 and gave the company a “buy” rating in a research note on Friday, October 18th. Piper Sandler boosted their price target on Blackstone from $168.00 to $179.00 and gave the company a “neutral” rating in a report on Monday, December 23rd. BMO Capital Markets boosted their price target on Blackstone from $134.00 to $157.00 and gave the company a “market perform” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company lowered their price target on Blackstone from $195.00 to $180.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. Twelve equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $169.56.

Blackstone Stock Performance

Shares of BX opened at $186.79 on Monday. Blackstone Inc. has a 12 month low of $115.82 and a 12 month high of $200.96. The stock has a fifty day moving average price of $180.90 and a 200-day moving average price of $160.62. The company has a current ratio of 0.71, a quick ratio of 0.71 and a debt-to-equity ratio of 0.58. The firm has a market cap of $134.86 billion, a PE ratio of 64.19, a P/E/G ratio of 1.22 and a beta of 1.53.

Insider Activity

In related news, insider John G. Finley sold 42,249 shares of the company’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $175.94, for a total value of $7,433,289.06. Following the transaction, the insider now directly owns 387,137 shares of the company’s stock, valued at $68,112,883.78. This represents a 9.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.